Cognitive Dissidence, The mechanism of warfare and subversion for intellectual revolutionaries.

Monday, 23 November 2009

The Economic Apocalypse

The comment below about policing comes from a great comment on a telegraph article - well done that man !

People totally misunderstand the true nature of policing.

The Police are no longer interested in enforcing Common Law or crimes against the individual because it doesn't earn money for the state.

They are corporate policy officers of the state and they operate 'in commerce.' They are there to turn a profit for the state. The Acts and Statutes they enforce are all contractual, given the force of law by the consent and acquiescence of the governed.

If you go to a credit rating agency website such as Dunn & Bradstreet, you will see that all police forces, law courts, councils and govt departments are corporations, run for profit. (Many of them have CCJs against them)

In the world of commerce, it is assumed that if you do not understand your rights, YOU HAVE NONE.

This really is too huge a subject to go into in much detail here. A god start is to to be able to understand and differentiate between Common Law (the law of the land) and Admiralty Law (the law merchant, Admiralty Law, Bankruptcy and maritime salvage laws).

We have all been turned into artificial corporations, legal fictions called 'persons'. We are 'vessels' on the high seas of commerce. In the eyes of the state, operating as it does in commerce, we are all vessels at sea. We are no longer under Common Law jurisdication in most cases. Murder and manslaughter are still prosecuted under Common Law but the vast majority of our laws, and there are millions of them, are the rules and regulations of a privately owned corporation operating in commerce for profit. By acquiescence and ignorance, we are all co-conspirators in the high crimes of the state by funding their wars and mass murder with our taxation.

When you attend any court in this country, you stand 'In the Dock.' You are a vessel quarantined in harbour and you cannot leave until taxes (fines/imprisonmnet) are paid to the harbourmaster (magistrate).

The corporation created in your name is always spelled in ALL CAPITALISED letters. Look at your cheque book, drivers license, DVLA documents, Council tax bills, electoral voting letters, letters from Inland Revenue.

The Birth (berth) Registration Certificate is a stock certificate, a promissary note and hence a financial instrument. When you register the birth of a child, you are actually surrendering legal title of your child to the state. You become 'legal guardian' with equitable title only (right of use). The same is true of motor vehicles. When you register a vehicle with DVLA, you are surrendering legal title of the vehicle to the state. You are 'registered keeper' not owner of your car. These assets, and the future wealth creating capability of your children become financial instruments that are used on the balance sheets of the UK Treasury to float further liens or to fight unlawful wars in Iraq, Afghanistan or wherever.

If you have ever wondered how the Bank of England can create money out of thin air, without the backing of tangible assets such as gold or silver, consider this....

YOU are what is backing our money. It is your future pledge to work, to create wealth and to pay taxes that makes our fiat currency system possible.

Hence, the STOCK of the Bank of England is US, represented by our Birth Registration Certificates. These are the most valuable financial instruments in the world.

We are mere cattle, secured by our future pledges to 'work for a living' We are nothing more than slaves. We are cattle grazing on their land, nothing more.

Now you know why the Police aren't interested in solving crime. THEY ARE THERE TO MAKE MONEY FROM YOU!

Société Générale has advised clients to be ready for a possible "global economic collapse" over the next two years, mapping a strategy of defensive investments to avoid wealth destruction.

By Ambrose Evans-PritchardPublished: 6:12PM GMT 18 Nov 2009

Comments 228 | Comment on this articleA bullet train speeding past Mount Fuji in Fuji city, west of Tokyo, JapanExplosion of debt: Japan's public debt could reach as much as 270pc of GDP in the next two years. A bullet train is pictured speeding past Mount Fuji in Fuji city, west of Tokyo Photo: Reuters

In a report entitled "Worst-case debt scenario", the bank's asset team said state rescue packages over the last year have merely transferred private liabilities onto sagging sovereign shoulders, creating a fresh set of problems.

Overall debt is still far too high in almost all rich economies as a share of GDP (350pc in the US), whether public or private. It must be reduced by the hard slog of "deleveraging", for years.

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* 'Debt levels risk another crisis'

"As yet, nobody can say with any certainty whether we have in fact escaped the prospect of a global economic collapse," said the 68-page report, headed by asset chief Daniel Fermon. It is an exploration of the dangers, not a forecast.

Under the French bank's "Bear Case" scenario (the gloomiest of three possible outcomes), the dollar would slide further and global equities would retest the March lows. Property prices would tumble again. Oil would fall back to $50 in 2010.

Governments have already shot their fiscal bolts. Even without fresh spending, public debt would explode within two years to 105pc of GDP in the UK, 125pc in the US and the eurozone, and 270pc in Japan. Worldwide state debt would reach $45 trillion, up two-and-a-half times in a decade.

(UK figures look low because debt started from a low base. Mr Ferman said the UK would converge with Europe at 130pc of GDP by 2015 under the bear case).

The underlying debt burden is greater than it was after the Second World War, when nominal levels looked similar. Ageing populations will make it harder to erode debt through growth. "High public debt looks entirely unsustainable in the long run. We have almost reached a point of no return for government debt," it said.

Inflating debt away might be seen by some governments as a lesser of evils.

If so, gold would go "up, and up, and up" as the only safe haven from fiat paper money. Private debt is also crippling. Even if the US savings rate stabilises at 7pc, and all of it is used to pay down debt, it will still take nine years for households to reduce debt/income ratios to the safe levels of the 1980s.

The bank said the current crisis displays "compelling similarities" with Japan during its Lost Decade (or two), with a big difference: Japan was able to stay afloat by exporting into a robust global economy and by letting the yen fall. It is not possible for half the world to pursue this strategy at the same time.

SocGen advises bears to sell the dollar and to "short" cyclical equities such as technology, auto, and travel to avoid being caught in the "inherent deflationary spiral". Emerging markets would not be spared. Paradoxically, they are more leveraged to the US growth than Wall Street itself. Farm commodities would hold up well, led by sugar.

Mr Fermon said junk bonds would lose 31pc of their value in 2010 alone. However, sovereign bonds would "generate turbo-charged returns" mimicking the secular slide in yields seen in Japan as the slump ground on. At one point Japan's 10-year yield dropped to 0.40pc. The Fed would hold down yields by purchasing more bonds. The European Central Bank would do less, for political reasons.

SocGen's case for buying sovereign bonds is controversial. A number of funds doubt whether the Japan scenario will be repeated, not least because Tokyo itself may be on the cusp of a debt compound crisis.

Mr Fermon said his report had electrified clients on both sides of the Atlantic. "Everybody wants to know what the impact will be. A lot of hedge funds and bankers are worried," he said.